Apple acquired the virtual reality company NextVR

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Photo by Lux Interaction on Unsplash

It was first reported by 9to5Mac that Apple has acquired the California-based company NextVR. It was expected that the acquisition may worth around $100 million and Apple is looking to hire most of the engineers who developed the product.

NextVR is a virtual reality company that makes streams sporting and music events in virtual reality for its users, Next VR was founded by David Cole and D.J. Roller a decade back in 2009, It has been successful in manufacturing and selling VR headsets and streaming events in virtual reality.

Many companies have used the technology of NextVR in their VR headsets like HTC, Microsoft, PlayStation, Oculus, etc. Besides this record of successful VR technology, NextVR has also patented over 40 different VR technologies in which one includes a way to upscale the resolution of VR streams.

All these patented technologies can be developed and used in Apple's next VR/AR headset, Apple may release their new VR/AR headsets under NextVR or under their own brand but this technology will definitely help their plans for augmented reality and AR headsets.

The official website of NextVR currently displays nothing but this message "NextVR is Heading in a New Direction. Thank you to our partners and fans around the world for the role you played in building this awesome platform for sports, music, and entertainment experiences in Virtual Reality."

NextVR also has several partnerships with NBA, Fox Sports, Wimbledon, and other live music and sporting event partners. 9to5Mac notes that "NextVR failed to secure a Series C round of funding in early 2019, however, which resulted in a 40% staff reduction at the time. NextVR’s focus on virtual reality was seen as a risk with the rise of augmented reality technology."